Sterling Softens ahead of BoE, Dollar Maintains Gains
Sterling softens notably today as focus turns to BoE rate decision, and more importantly the stance regarding negative interest rates. Euro and Swiss Franc remain generally weak too. New Zealand and Canadian Dollars are paring some gains as risk markets...
AUD/USD Upsides Capped, Dollar Extends Gains
Key Highlights AUD/USD declined below the 0.7650 and 0.7600 support levels. A key bearish trend line is forming with resistance near 0.7670 on the 4-hours chart. EUR/USD extended its decline, GBP/USD is struggling to stay above 1.3600. The US ADP...
More unemployment aid may be coming. Many are still waiting on the last round
Capitol dome Congress Mark Makela | Getty Images News | Getty Images President Joe Biden and congressional Democrats are hoping to pass $1.9 trillion of additional pandemic relief, including extra jobless benefits. Still, many unemployed workers haven’t yet gotten benefit...
USD/TRY: Bears to Extend Further after Break of Key Supports
The USDTRY returned to red on Wednesday after bears took a breather on Tuesday, when price bounced from new six-month low (7.0887). The pair was down nearly 4% since it broke pivotal 200DMA last week, with additional negative signals being...
ADP Impresses, Crude Rally Continues, Gold Stumbles on Strong US Data
US stocks initially pushed higher on big-tech earnings, expectations Senate Democrats will pass Biden’s stimulus plan on a party-line vote, and after the ADP private payroll report shows the labor market rebounded in January. The morning rally fizzled at the...
Private companies added 174,000 jobs in January, vs 50,000 estimate, ADP says
A month after reporting the first loss since April, the employment picture bounced back in January as companies added 174,000 new jobs, according to a report Wednesday from payroll processing firm ADP. The gain beat the 50,000 estimate from economists...
Euro Stays Weak Despite Better CPI, Dollar Shrugs Strong ADP Job Growth
Economic data released today are largely ignored so far. Euro’s weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected...
Mortgage refinancing suddenly surges, but homebuyers stall due to sticker shock
A house for sale on December 17, 2020 in Scituate, Massachusetts. Matt Stone | MediaNews Group | Getty Images Mortgage rates fell for the first time in nearly a month, and that lit a fire under current borrowers who may...
Eurozone Inflation Jumps In Jan, Italian Politics Remain In Focus
Notes/Observations Italian political situation remains in focus; former ECB chief Draghi said to be the front-runner to form a new govt Major European Services PMI data mixed in session but staying in contraction territory (Beats: Euro Zone, France, Italy and...
GBP/USD Outlook: Deeper Pullback Seen On Firm Break Of 20DMA
Cable stands at the back foot in early Wednesday’s trading and pressures again pivotal 20DMA support (1.3648) which holds the action since late December. Near-term bias remains negative following fresh weakness after multiple failures to clearly break 1.37 zone, although...
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